WEMIX

<ul><li>Mass burn of Foundation-owned WEMIX</li><li>Introduction of block minting halving</li><li>Reduction of WEMIX maximum supply</li><li>Collective growth with the community through ecosystem development funds</li></ul>Launched in 2018 and expanded to a public mainnet in 2022, WEMIX3.0 is dedicated to fostering a platform-driven mega-ecosystem. On January 9th, 2024, the WEMIX Foundation unveiled the plan to fix the maximum supply of WEMIX.Related link : <a href="https://www.wemix.com/communication/wemix,-zero-minting-2c58693a149d" rel="noopener noreferrer nofollow">https://www.wemix.com/communication/wemix,-zero-minting-2c58693a149d</a>The main purpose of this announcement is to firmly establish the position of WEMIX Coin as a genuine utility token within the authentic economic framework by fixing the maximum supply, ensuring that the total growth of the network and ecosystem is fully reflected in the total value of the already issued WEMIX. This aims to dispel concerns about arbitrary and discretionary network macro policies, particularly those arising from inflation plans and preconceived unlimited issuance. This will firmly establish the position of WEMIX as a utility coin, and the growth of utility will become the fundamental mechanism reflecting the growth of the ecosystem and the value of WEMIX.The WEMIX team holds aspirations for the WEMIX ecosystem. Instead of deriving contentment from past achievements, the initiation of this vision is considered a shared anticipation with the community for future accomplishments. Underpinned by the principles of “priority on WEMIX community growth after initial allocation,” the objective is to revise the tokenomics, as outlined below.1. Mass Burn of Reserve, excluding minimum growth fundsWhile there is unanimous confidence in the current potential and growth of WEMIX, it’s crucial to acknowledge the perception that majority ownership lies with WEMIX PTE., LTD., commonly known as the Foundation. This perception fosters a dominance structure in which WEMIX is often seen as exclusively belonging to the Foundation, rather than being recognized as an ecosystem comprising holders — who represent WEMADE, node partners, investors, the community, and developers collectively. Although there are no questions raised with regard to the transparency of the Foundation’s ownership and utilization of WEMIX, concerns have arisen regarding the potential for arbitrary asset disposal and its impact on collective economic growth. Therefore,“The Foundation has decided to burn approximately 437,000,000 WEMIX.”2. Reaffirmation of Collective Growth with the Community as the Foremost Value“WEMIX held by the Foundation are managed by the Foundation, but ultimately belong to the community.”The transition from the era of distribution to the era of collective growth signifies that the Foundation’s holdings will continue and will be reaffirmed as a shared resource for ecosystem growth, as it has done so far. Furthermore, the profits generated through this process will be collectively distributed to the WEMIX community, including both the Foundation and holders.This evolution marks a shift from a Foundation-led ecosystem to a community-driven ecosystem.3. Introduction of Block Minting Halving“Maximum supply reduction to 590 million and introduction of block minting halving.”WEMIX3.0 introduces a dual structure encompassing both rewards and performance shares, aligning with its growth-oriented policy within the block minting framework. In its initial phase, the design emphasizes rewards through block minting, gradually transitioning towards a dual structure where the allocation of performance shares increases. This evolution occurs through a halving process in WEMIX3.0 block minting every two years. Once the maximum supply reaches 590 million after the 16th halving, block minting will permanently cease.During this phase, as the reduced performance share over WEMIX network fees is substituted with block minting rewards, WEMIX3.0 aims to establish itself as a growth-oriented and sustainable economy. This dual structure of block rewards is crafted to fulfill the objectives set by WEMIX3.0, aspiring to become the world’s leading commercial entity while providing the most rational method of block rewards.4. Reduction and Fixed Maximum Supply<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/78b265fe5b484bad87a6992a1b9881ba.png" />In accordance with the aforementioned mass burn of foundation-owned WEMIX along with the introduction of block minting halving, the permanent maximum supply of WEMIX will effectively be set to 590 million. This marks a 60% reduction from the current maximum supply of 980 million and, subsequently, the current circulating supply of WEMIX which accounts for 38% of the original maximum supply will be changed to 64% of the new maximum supply of 590 million.5. Use of Ecosystem Development Fund<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/77a7624be73546ca9e4d3facb7c453ec.png" />The previously mentioned minimum growth funds will be categorized as the Foundation’s ecosystem development fund and managed accordingly. In the era of growth, the development fund does not belong to the Foundation. Once allocated, it becomes collectively owned by the WEMIX community members.Of the newly established ecosystem development fund, 40% will be allocated for community promotions and marketing to promote the WEMIX ecosystem, while the remaining 60% will be actively invested in partnerships and ventures with outstanding companies and teams contributing to the WEMIX ecosystem. Through the growth of the fund, it will contribute to enhancing community value.The ecosystem development fund will be utilized over a period of 5 years starting from July 1st, 2024. Thereafter, any remaining balance or proceeds from previous investments will be reinvested for operation, thereby ensuring full utilization.6. Actively Giving Back to the CommunityThe Foundation has actively given back a portion of the revenue, in some way or form, generated from funds invested in enriching the ecosystem back to the community.Recently, with operational know-how and competitiveness verified through discovery, investment, and joint ventures with leading companies in the WEMIX ecosystem such as MADNGINE, the Foundation reaffirms the principle of collective growth and active reinvestment with the community. The Foundation will engage in multidimensional investments and partnerships for ecosystem growth, building on the momentum and support of the community.The revenue generated from the operation of the WEMIX Ecosystem Development Fund, in line with the Foundation’s efforts to foster ecosystem growth and with the agreement and support of the community, will be reinvested into the ecosystem for further growth once the principal is recovered. Additionally, 35% of the profits generated, excluding the initial invested capital, will be transparently and entirely allocated to enhancing the growth and value of the WEMIX community through various means such as WEMIX buyback and burn initiatives.7. WEMADE Development Costs, Including Team Rewards<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/f153ddae8f2a47e2b5cc6a8545a6fde4.png" />The existing team reward within WEMADE, initially set at 90 million WEMIX, will be reduced to 50 million WEMIX. The remaining 40 million WEMIX will be immediately burned. This allocation collectively covers ‘development costs,’ encompassing expenses for both WEMADE’s invested development costs and team rewards over a 5-year period.8. Sustainable Buyback and Burn policyIn alignment with the commitment and philosophy of the WEMIX ecosystem, which emphasizes a multifaceted approach to ecosystem and economic growth beyond tokenomics alone, the burn policy of the WEMIX platform revenue/income will be maintained. It will continue at the existing rate of 25%, with the flexibility to adapt based on the stage of growth and the magnitude of achievements.9. ScheduleThe Foundation plans to actively gather feedback from node partners and the community regarding the announced plans and policies, and if necessary, supplement and modify them. The newly updated WEMIX tokenomics and policy changes will be implemented on July 1st, 2024, aligned with the Brioche hard fork for the first halving.10. Important Notes Regarding This ProposalAll or part of the contents may be modified, altered, or canceled.The announcement of policies and plans for the Brioche hard fork is a proposal put forward by the Foundation to lead collective growth based on aligning perspectives, expectations, and concerns regarding WEMIX held by the various constituents of the WEMIX community, including the Foundation, WeMade, node partners, holders, investors, and development partners. Therefore, all or part of the contents may be subject to modification, alteration, or cancellation during subsequent discussions and reviews of specific details. Please consider this when assessing future prospects and investment decisions regarding the project.Official WEMIX site announcement : <a href="https://www.wemix.com/communication/the-rebirth-of-wemix-brioche-hard-fork-a6f29766d1a5" rel="noopener noreferrer nofollow">https://www.wemix.com/communication/the-rebirth-of-wemix-brioche-hard-fork-a6f29766d1a5</a>[WEMIX Community] • WEMIX Official Webpage : <a href="https://www.wemix.com/communication" rel="noopener noreferrer nofollow">wemix.com</a> • Medium : <a href="https://medium.com/wemix-communication" rel="noopener noreferrer nofollow">WEMIX Communication</a> | <a href="https://medium.com/wemix-play" rel="noopener noreferrer nofollow">WEMIX PLAY</a> | <a href="https://medium.com/nile-official" rel="noopener noreferrer nofollow">NILE</a> • WEMIX Channels : <a href="https://twitter.com/WemixNetwork" rel="noopener noreferrer nofollow">X (formerly Twitter)</a> | <a href="https://www.facebook.com/WEMIXBlockchain" rel="noopener noreferrer nofollow">Facebook(WEMIX Platform)</a> | <a href="https://www.facebook.com/WEMIXGames" rel="noopener noreferrer nofollow">Facebook(WEMIX Games)</a> | <a href="https://t.me/WEMIX_ANNouncement" rel="noopener noreferrer nofollow">Telegram</a>

The Rebirth of WEMIX, Brioche Hard Fork

WEMIX

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